A 203k loan is a government-insured loan that allows homebuyers and homeowners to finance the purchase or refinance of a home while also making energy-efficient improvements or renovations to the property.
203k loans are popular because they offer low interest rates and flexible repayment terms, and they can be used to finance a wide range of home improvements, including repairs, renovations, and additions. 203k loans are also assumable, which means that they can be transferred to a new buyer if the original borrower sells the home.